Ageing workforce

How are the demographics of the workforce changing? Are the new jobs being taken by older or younger workers?

Current labour market statistics

Number of over 65 YEAR OLDs in employment (UK)

This has been increasing by an average of around 10,000 people each a month (although it is beginning to slow). The rise in over 65s in employment began at the turn of the century, but increased after the abolition of the Default Retirement Age. For a deeper analysis of the issues around this, read our blog.

Economic activity by age group (UK)

This chart shows economic activity by age group. Economic activity of a measure of all those in work and all those actively looking for work (i.e. employed plus unemployed). Those aged 50-64 now outnumber those aged 25-34. The number of active 16-17 years has nearly halved. The number of active 65+ has more than doubled.

Source below

Leaving the workforce

UK Life expectancy (from birth, 1841-2011)

In 1841 the average newborn boy was not expected to live much beyond their 40th birthday. Today, newborn boys should reach their 79th birthday (with girls living well into their 80s).

The ONS have produced an excellent calculator allowing you to see your own life expectancy (available here).

Source below

Actual pension age vs hypothetical pension age (1981-2027)

The state pension age has remained at 65 (for men, 60 for women) for many years. Over the next decade it will start to increase slowly and will be linked to life expectancy when it reaches 67 in 2027. This chart shows how the pension age would now be different had a link to life expectancy been established earlier (in 1981).